Quote

Price statistics show clearly that instability in raw-material prices is a prime cause of instability of other prices.

Benjamin Graham

Change background

T
T
T

Change font

TAGS & TOPICS

Benjamin Graham
Age: 82 †
Born: 1894
Born: May 8
Died: 1976
Died: September 21
Economist
Financier
Investor
University Teacher
Writer
London
England
Causes
Prices
Show
Statistics
Shows
Prime
Clearly
Price
Material
Materials
Cause
Instability

More quotes by Benjamin Graham

Image
The purchase of a bargain issue presupposes that the market's current appraisal is wrong, or at least that the buyer's idea of value is more likely to be right than the market's. In this process the investor sets his judgement against that of the market. To some this may seem arrogant or foolhardy.
Benjamin Graham
Image
The stock market resembles a huge laundry in which institutions take in large blocks of each others washing ... without rhyme or reason.
Benjamin Graham
Image
Thousands of people have tried, and the evidence is clear: The more you trade, the less you keep.
Benjamin Graham
Image
Only in the exceptional case, where the integrity and competence of the advisers have been thoroughly demonstrated, should the investor act upon the advice of others without understanding and approving the decision made.
Benjamin Graham
Image
Good managements produce a good average market price, and bad managements produce bad market prices.
Benjamin Graham
Image
To establish the right price for a stock, the market must have adequate information, but it by no means follows that is the market has this information it will thereupon establish the right price.
Benjamin Graham
Image
The sillier the market's behavior, the greater the opportunity for the business like investor.
Benjamin Graham
Image
It is absurd to think that the general public can ever make money out of market forecasts.
Benjamin Graham
Image
The distinction between investment and speculation in common stocks has always been a useful one and its disappearance is cause for concern.
Benjamin Graham
Image
Have the courage of your knowledge and experience. If you have formed a conclusion from the facts and if you know your judgment is sound, act on it – even though others may hesitate or differ.
Benjamin Graham
Image
A stock is not just a ticker symbol or an electronic blip it is an ownership interest in an actual business, with an underlying value that does not depend on its share price.
Benjamin Graham
Image
Stocks can be dynamite.
Benjamin Graham
Image
... the loss of public confidence in the financial community growing out of its own conduct in recent years. I insist that more damage has been done to stock values and to the future of equities from inside Wall Street than from outside Wall Street.
Benjamin Graham
Image
Most of the time common stocks are subject to irrational and excessive price fluctuations in both directions as the consequence of the ingrained tendency of most people to speculate or gamble... to give way to hope, fear and greed.
Benjamin Graham
Image
The investor with a portfolio of sound stocks should expect their prices to fluctuate and should neither be concerned by sizable declines nor become excited by sizable advances. He should always remember that market quotations are there for his convenience, either to be taken advantage of or to be ignored.
Benjamin Graham
Image
The investor's chief problem - and even his worst enemy - is likely to be himself.
Benjamin Graham
Image
The chief losses to investors come from the purchase of low-quality securities at times of favorable business conditions.
Benjamin Graham
Image
The defensive (or passive) investor will place chief emphasis on the avoidance of serious mistakes or losses. His second aim will be freedom from effort, annoyance, and the need for making frequent decisions.
Benjamin Graham
Image
In the financial markets, hindsight is forever 20/20, but foresight is legally blind. And thus, for most investors, market timing is a practical and emotional impossibility.
Benjamin Graham
Image
Even the most conservative must realize that the recent transformation of surplus from an individual to a national disaster implies a scathing indictment of our capitalist system as it has now developed.
Benjamin Graham